Parallel Energy Trust

Equities

PEYTF

CA69915T1057

Oil & Gas Exploration and Production

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2016	Parallel Energy Trust Filed For Bankruptcy	CI
2015	Parallel Energy Trust Requests an Extension from its Lending Syndicate of its %165 Million Credit Facility	CI

Parallel Energy Trust Announces Unaudited Earnings and Operating Results for the Third Quarter Ended September 30, 2014; Announces Production Results for the Month and Year to Date Ended October 31, 2014; Provides Production Guidance for the Year 2014; Reiterates Cash Flow Guidance for the Year 2014

November 10, 2014 at 06:30 pm IST

Parallel Energy Trust announced unaudited earnings and operating results for the third quarter ended September 30, 2014. For the company's revenue, net of royalties was CAD 26.2 million compared with CAD 24.5 million a year ago. Funds from operations were CAD 12.4 million compared with CAD 10.8 million a year ago. Net income was CAD 6.1 million compared with net loss of CAD 2.1 million a year ago. Capital expenditures excluding acquisitions were CAD 3.2 million compared with CAD 1.1 million a year ago.

For the quarter, the company's natural gas production was 14,678 mcf/day compared with 13,931 mcf/day a year ago. Condensate production was 1,578 bbls/day compared with 1,594 bbls/day a year ago. Natural Gas Liquids production was 3,397 bbls/day compared with 3,185 bbls/day a year ago. Total production was 7,422 boe/day compared with 7,100 boe/day a year ago.

The company's average daily production for October 2014 was approximately 7,350 boe/day.

The company's average daily production for the ten months ended October 31, 2014 was approximately 7,100 boe/day.

The company is well positioned to meet its full year 2014 production guidance of 7,100 -- 7,300 boe/day.

The company is reiterating its cash flow estimate of CAD 46 million for the full year 2014.

Latest news about Parallel Energy Trust

Parallel Energy Trust Filed For Bankruptcy	19/16/19	CI
Parallel Energy Trust Requests an Extension from its Lending Syndicate of its %165 Million Credit Facility	16/15/16	CI
Parallel Energy Trust Announces Unaudited Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Operating Results for the Month and Year to Date Ended July 2015; Provides Operating Guidance for the Full Year of 2015; Reports Impairment Charges for the Second Quarter of 2015	11/15/11	CI
Parallel Energy Trust Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Year 2015	11/15/11	CI
Parallel Energy Trust Announces Renewal of Credit Facility	28/15/28	CI
Parallel Energy Trust To Suspend All Monthly Distributions to Unitholders Commencing with the Month of April 2015	15/15/15	CI
Parallel Energy Hires Advisors To Consider Strategic Options	15/15/15	CI
Parallel Energy Trust Announces Distribution for the Month of March 2015, Payable on April 23, 2015	16/15/16	CI
Parallel Energy Trust Reports Audited Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Maintains Production Guidance for the Full Year of 2015; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014	16/15/16	CI
Parallel Energy Trust Confirms Cash Distribution for the Period February 1, 2015 to February 28, 2015 Payable on March 23, 2015	17/15/17	CI
Parallel Energy Trust Confirms Cash Distribution in Respect of the Period from and Including January 1, 2015 to January 31, 2015 Payable on February 23, 2015	15/15/15	CI
Parallel Energy Trust Revises Capital Budget and Production for the Year 2015; Reports Production Results for the Fourth Quarter and Full Year 2014	15/15/15	CI
Parallel Energy Trust Confirms Cash Distribution to in Respect of the Period from and Including December 1, 2014 to December 31, 2014 Payable on January 23, 2015	16/14/16	CI
Parallel Energy Trust Announces Board Changes; Provides Operating and Financial Guidance for 2015	27/14/27	CI
Parallel Energy Trust Confirms December Distribution, Payable on December 23, 2014	17/14/17	CI
Parallel Energy Trust Announces Unaudited Earnings and Operating Results for the Third Quarter Ended September 30, 2014; Announces Production Results for the Month and Year to Date Ended October 31, 2014; Provides Production Guidance for the Year 2014; Reiterates Cash Flow Guidance for the Year 2014	10/14/10	CI
Parallel Energy Seeks Acquisitions	10/14/10	CI
Parallel Energy Trust Announces Production Results for the Third Quarter and Nine Months Ended September 30, 2014	02/14/02	CI
Parallel Energy Trust Confirms September Distribution, Payable on October 23, 2014	16/14/16	CI
Parallel Energy Trust Confirms August Distribution, Payable on September 23, 2014	15/14/15	CI
Parallel Energy Trust Reports Earnings and Production Results for the Second Quarter Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014	11/14/11	CI
Parallel Energy Trust Confirms July Distribution Payable on August 22, 2014	16/14/16	CI
Parallel Energy Trust Confirms June 2014 Distribution, Payable on July 23, 2014	17/14/17	CI
Parallel Energy Trust Confirms May 2014 Distribution, Payable on June 23, 2014	16/14/16	CI
Parallel Energy Trust Announces Unaudited Financial and Operating Results for the First Quarter Ended March 31, 2014; Announces Operating Results for the Month of April and First Nine Days of May 2014; Reaffirms Operating and Cash Flow Guidance for 2014	12/14/12	CI

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Company Profile

Parallel Energy Trust (Parallel or the Trust) is a Canada-based distribution-paying energy income trust. The Trust's assets and operations are located in Texas and Oklahoma in the United States and its portfolio consists of mature, liquids-rich natural gas assets. The Trust's business strategy is focused on acquiring and developing long-life, conventional oil and natural gas assets. The Trust manages five operating areas located in Texas and Oklahoma. The Trust operates 100% of its Texas assets, which are located in the Carson, Hutchinson, Moore, Potter, Gray and Roberts counties and it holds a 30% non-operated interest in a Mississippian Lime play located in Garfield County, Oklahoma. The Trust's Carson, Sneed and Cargray operating areas are located in the Greater Panhandle/Hugoton Gas Field, a conventional gas field in North America.

Sector

Oil & Gas Exploration and Production

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